A weekly roundup of small-business developments.
What’s affecting me, my clients and other small-business owners this week.
The Big Story: Heading for a Cliff
After a disappointing small-business optimism report from the National Federation of Independent Business, the president pledges to extend the Bush tax cuts for people making less than $250,000 a year and then signs off on a new small-business package. The chairman of the House Small Business Committee responds. Keith Koffler says the president’s proposal would “slam 620,000 small businesses.” Jared Bernstein says, “Boy, are Americans not overtaxed.” Here’s a fact check. The Senate moves forward with small-business tax breaks. This is why small businesses aren’t hiring. Paul B. Farrell says America’s “fiscal cliff” is actually four cliffs. Peter Schiff warns that “the debt burden that the United States will face when interest rates rise presents a much larger fiscal cliff.” Why Paris Hilton’s dogs are better off than you. Nancy Pelosi dances.
The Economy: Taking Credit
Lou Basenese offers five bullish charts for American stocks. Consumer credit jumps, and here’s what it means. Manufacturing technology and conveyor orders are up, perhaps because of the used parts bought by this guy. A Pew study finds that 84 percent of Americans
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